Looks like there`s been an error while trying to load this page.
Our team has been notified but please contact us using the email support widget if the problem persists.
| Metrics | Range | Conclusion |
|---|---|---|
| Selected LTM EBIT Multiple | 6.1x - 6.7x | 6.4x |
| Selected Fwd EBIT Multiple | 7.9x - 8.8x | 8.4x |
| Fair Value | ¥3,291 - ¥3,807 | ¥3,549 |
| Upside | 28.4% - 48.5% | 38.4% |
| Benchmarks | Ticker | Full Ticker |
| Solid State System Co., Ltd. | 3259 | TPEX:3259 |
| THine Electronics, Inc. | 6769 | TSE:6769 |
| Micron Technology, Inc. | MU_KZ | KAS:MU_KZ |
| Intel Corporation | 4335 | SEHK:4335 |
| Kuramoto Co., Ltd. | 5216 | TSE:5216 |
| Kioxia Holdings Corporation | 285A | TSE:285A |
| - | - | - |
| Select LTM EBIT Multiple | |||||||
| Benchmark Companies | |||||||
| 3259 | 6769 | MU_KZ | 4335 | 5216 | 285A | ||
| TPEX:3259 | TSE:6769 | KAS:MU_KZ | SEHK:4335 | TSE:5216 | TSE:285A | ||
| Historical EBIT Growth | |||||||
| 5Y CAGR | NM- | -34.8% | -30.0% | NM- | NM- | NM- | |
| 3Y CAGR | NM- | -63.8% | -43.2% | NM- | NM- | NM- | |
| Latest Twelve Months | -17.1% | 156.1% | 253.9% | -402.4% | NM | 173.1% | |
| Historical EBIT Profit Margin | |||||||
| 5 Year Average Margin | -35.3% | 0.5% | 9.3% | 14.6% | 6.1% | -10.0% | |
| Prior Fiscal Year | -30.1% | -0.8% | -35.1% | 2.3% | NA | -7.7% | |
| Latest Fiscal Year | -75.4% | 0.5% | 5.0% | -7.2% | 6.1% | -23.5% | |
| Latest Twelve Months | -94.1% | 0.5% | 19.6% | -7.2% | 6.1% | 27.3% | |
| Current Trading Multiples | |||||||
| EV / LTM Revenue | 6.56x | 0.56x | 3.43x | 2.46x | 6.82x | 1.34x | |
| EV / LTM EBITDA | -7.5x | 21.4x | 7.6x | 17.3x | 49.5x | 2.9x | |
| EV / LTM EBIT | -7.0x | 111.5x | 17.5x | -34.1x | 112.4x | 4.9x | |
| Low | Mid | High | |||||
| Benchmark EV / LTM EBIT | -34.1x | 17.5x | 112.4x | ||||
| Historical EV / LTM EBIT | 0.0x | NM | 0.0x | ||||
| Selected EV / LTM EBIT | 6.1x | 6.4x | 6.7x | ||||
| (x) LTM EBIT | 458,462 | 458,462 | 458,462 | ||||
| (=) Implied Enterprise Value | 2,797,613 | 2,944,855 | 3,092,098 | ||||
| (-) Non-shareholder Claims * | (865,696) | (865,696) | (865,696) | ||||
| (=) Equity Value | 1,931,917 | 2,079,159 | 2,226,402 | ||||
| (/) Shares Outstanding | 539.1 | 539.1 | 539.1 | ||||
| Implied Value Range | 3,583.84 | 3,856.99 | 4,130.14 | ||||
| FX Rate: JPY/JPY | 1.0 | 1.0 | 1.0 | Market Price | |||
| Implied Value Range (Trading Cur) | 3,583.84 | 3,856.99 | 4,130.14 | 2,564.00 | |||
| Upside / (Downside) | 39.8% | 50.4% | 61.1% | ||||
| Equity Waterfall | |||||||
| Benchmark Companies | |||||||
| (in millions) | 3259 | 6769 | MU_KZ | 4335 | 5216 | 285A | |
| Enterprise Value | 1,460 | 2,563 | 105,930 | 130,530 | 10,800 | 2,247,852 | |
| (+) Cash & Short Term Investments | 97 | 7,306 | 8,215 | 22,062 | 0 | 174,300 | |
| (+) Investments & Other | 0 | 503 | 1,571 | 5,383 | 0 | 7,213 | |
| (-) Debt | (82) | 0 | (15,023) | (50,706) | 0 | (1,047,068) | |
| (-) Other Liabilities | 0 | (130) | 0 | (5,762) | 0 | (141) | |
| (-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
| (-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
| Value of Common Equity | 1,475 | 10,242 | 100,693 | 101,507 | 10,800 | 1,382,156 | |
| (/) Shares Outstanding | 57.0 | 10.7 | 1,117.6 | 6,580.5 | 48.0 | 539.1 | |
| Implied Stock Price | 25.90 | 959.00 | 90.10 | 15.43 | 225.00 | 2,564.00 | |
| FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 0.13 | 1.00 | 1.00 | |
| Implied Stock Price (Trading Cur) | 25.90 | 959.00 | 90.10 | 120.00 | 225.00 | 2,564.00 | |
| Trading Currency | TWD | JPY | USD | HKD | JPY | JPY | |
| FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 0.13 | 1.00 | 1.00 | |